Property Tax - Credit for Commercial Buildings Rented to Small Businesses, the official text

WES MOORE, Governor                  Ch. 603

Chapter 603

                   (Senate Bill 767)

AN ACT concerning

Property Tax – Credit for Commercial Buildings Rented to Small Businesses

FOR the purpose of authorizing the Mayor and City Council of Baltimore City and the
         governing body of a county or municipal corporation to grant, by law, a credit against
         the county or municipal corporation property tax imposed on a commercial building
         that is rented to a small business if the commercial building is located in certain
         areas; and generally relating to a property tax credit for commercial buildings rented
         to small businesses.

BY adding to
         Article – Tax – Property
         Section 9–276
         Annotated Code of Maryland
         (2019 Replacement Volume and 2025 Supplement)

         SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:

                   Article – Tax – Property

9–276.

        (A) THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE
GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY GRANT, BY LAW,

A TAX CREDIT AGAINST THE COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX
IMPOSED ON A COMMERCIAL BUILDING THAT IS RENTED OR RENTED TO OWN AT
FAIR MARKET VALUE TO A SMALL BUSINESS IF THE COMMERCIAL BUILDING IS

LOCATED IN:

                (1) AN ARTS AND ENTERTAINMENT DISTRICT DESIGNATED UNDER
TITLE 4, SUBTITLE 7 OF THE ECONOMIC DEVELOPMENT ARTICLE; OR

                (2) A MAIN STREET MARYLAND COMMUNITY DESIGNATED BY THE
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT;

                (3) A BALTIMORE MAIN STREET AS DESIGNATED BY THE MAYOR AND
CITY COUNCIL OF BALTIMORE CITY; OR

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Ch. 603  2026 LAWS OF MARYLAND

                (4) ANY OTHER BUSINESS IMPROVEMENT DISTRICT AS DESIGNATED
BY THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE GOVERNING BODY
OF A COUNTY OR MUNICIPAL CORPORATION.

        (B) THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE
GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY PROVIDE, BY
LAW, FOR:

                (1) THE AMOUNT AND DURATION OF THE TAX CREDIT UNDER THIS
SECTION;

                (2) ADDITIONAL ELIGIBILITY CRITERIA FOR THE TAX CREDIT UNDER
THIS SECTION;

                (3) APPLICATION PROCEDURES FOR THE TAX CREDIT UNDER THIS
SECTION; AND

                (4) ANY OTHER PROVISION NECESSARY TO CARRY OUT THE TAX
CREDIT UNDER THIS SECTION.

         SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June
1, 2026, and shall be applicable to all taxable years beginning after June 30, 2026.

Approved by the Governor, May 26, 2026.

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